Specialty Tapes Market 2021-2031: Market Share and Forecast
The Specialty Tapes Market is expected to register a CAGR of 6.3% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by resin type (acrylic, rubber, silicone, and others). The report is further segmented by technology (solvent-based, water-based, and others). The report is segmented by backing material (polyvinyl chloride, paper, woven/non-woven, polyethylene terephthalate, foam, polypropylene, and others). The report further presents an analysis based on the end use industry (electrical and electronics, healthcare, automotive, white goods, paper and printing, building and construction, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Specialty Tapes Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Specialty Tapes Market Segmentation
Resin Type- Acrylic
- Rubber
- Silicone
- Solvent-Based
- Water-Based
- Polyvinyl Chloride
- Paper
- Woven/Non-woven
- Polyethylene Terephthalate
- Foam
- Polypropylene
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Specialty Tapes Market Growth Drivers- Growing Demand for Specialty Tapes in the Automotive and Transportation Industries: The specialty tapes market is the demand through the automotive and transportation industries. Specialty tapes are also finding applications in surface protection, insulation, bonding, and sealing in the automotive and transportation industries. The use for the manufacture and assembly of the vehicles-where, for example, lightweight materials, fuel-efficient vehicles, and electric vehicles (EVs)-are mostly manufactured-will significantly boost the specialty tapes market in the automotive and transportation industries. For instance, automotive tapes are important for bonding components, gap sealing, and enhancing aerodynamics. Moving forward with the strategy of electric vehicles and sustainability, specialty tapes of lightweight construction for battery pack assembly are in high demand.
- Expansion of Specialty Tape Applications in Consumer Electronics: Consumer electronics, including smartphones and tablets, wearables, and home appliances, increase the demand for high-performance adhesives. Specialty tapes are applied for electronic device insulation, bonding, cable management, and shielding applications. This increases the need for specialty tapes as electronic parts miniaturize, and greater reliability, durability, and heat resistance demands are made for circuit boards, displays, and LEDs.
- Technological Advancements Drive Growth of Specialty Tapes in Aerospace, Construction, and Renewable Energy: Technological advancements in manufacturing and industrial processes also help in the expansion of the specialty tapes market. Specialty tapes are widely being used in markets such as aerospace, construction, and renewable energy sectors for high-end applications. In the aerospace industry, specialty tapes are used for insulation covering, wire and cable protection, and surface masking for paint and coating applications. The multifunctional properties of specialty tapes find their applicability in construction industries for insulation, weatherproofing, and sealing. Since industrial processes are increasing in complexity while at the same time being matched with an enhanced requirement for precision, specialty tapes play an indispensable role in many sectors.
- Rising Demand for Sustainable and Environmentally Friendly Specialty Tapes: One of the major trends in the specialty tapes market is consumer and industry demand for sustainable and environmentally friendly products. Companies are increasingly focusing on their environmental impact by making use of biodegradable materials, recycled components, or materials that inherently have a lower carbon footprint. As an example, these manufacturers developed paper-based tapes as alternatives to using plastic-based tapes, which may be recycled more easily. As the construction and packaging industry becomes more environmentally conscious, so does the demand for green tapes.
- Specialty Tapes Play a Key Role in the Growing Electric Vehicle Market: Specialty tapes are emerging as an application-specific category in the fast-growing electric vehicle market. They are used for thermal management insulating the batteries, and sealing various components in electric vehicles. Such high-performance tapes-often with properties of heat resistance, electrical insulation, or flame retardancy-stem especially across points of high importance in EV battery systems. As the adoption of EVs increases worldwide, there is expected to be a growth in demand for such tapes used in battery protection and power management systems opening up new market avenues.
- Emerging Market for High-Performance Specialty Tapes in Electric Vehicle Applications: As the market for electric vehicles rises significantly, there is an emerging trend of specialized tapes designed for very specific applications in EVs. High-performance tapes are used for thermal management, insulation of batteries, and sealing in EV components. These tapes have particular characteristics such as heat resistance, electrical insulation, and flame retardancy. Such tapes are extremely important in EV battery systems. Increasing global uptake of EVs is expected to lead to an increase in demand for such specialized tapes for the protection and management of power in battery systems and open up opportunities in the market.
- Electric Vehicles and Advanced Battery Technologies Drive Specialty Tape Demand: Electric vehicles and other advanced battery technologies offer significant potential for the specialty tapes market, as they require bonding, sealing, insulation, and thermal management with specialty tapes. Production of electric vehicles will continue to require additional high-performance adhesives, starting notably from recent developments related to battery technology (lithium-ion, solid state). This opens wide doors for specialty tape manufacturers to meet the specific needs of this market, such as thermal conductivity, fire resistance, and electrical insulation tapes.
- Growing Construction and Renovation Activities Fuel Specialty Tape Market Expansion: Construction activities around the world have opened avenues for significant opportunities in specialty tapes with an ever-growing pool of construction and renovation initiatives. Specialty tapes are used for sealing, insulation, masking, and weatherproofing in residential and commercial buildings. In the drive for energy efficiency and the use of greener materials, tapes that enhance energy efficiency support improved insulation and are helping toward the achievement of environmental objectives are in rising demand. A few are HVAC sealing tapes weatherproofing tapes, and soundproofing tapes-gaining ground in construction projects, this is opening the doors for companies to innovate solutions tailored to these demands.
- Rising Demand for Specialty Tapes in Renewable Energy and Aerospace Sectors: Specialty tapes have huge growth potential as large segments of users in the renewable energy and aerospace sectors. Specialty tapes have highly gained usage in aerospace applications for masking and protecting the surface, insulation, and bonding of aircraft components. This propels the demand for specialty tapes in aerospace. Air travel has gotten better over time, becoming more committed to sustainable aviation, which is likely to propel the aerospace industry to keep demanding high-performance tapes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Specialty Tapes Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Specialty Tapes Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Rising demand for eco-friendly and sustainable tape products is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the specialty tapes market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
3M Co, Nitto Denko Corp, tesa SE, LINTEC Corp, AVERY DENNISON CORP, DuPont de Nemours Inc, Scapa Group Ltd, Berry Global Inc, and Compagnie de Saint-Gobain SA
The major factors driving the specialty tapes market are:
1. Growing Demand from Automotive and Transportation Sectors.
2. Growth in Electronics and Consumer Goods Industries.
The Specialty Tapes Market is estimated to witness a CAGR of 6.3% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Specialty Tapes Market - By Type
1.3.2 Specialty Tapes Market - By Backing Material
1.3.3 Specialty Tapes Market - By Application
1.3.4 Specialty Tapes Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SPECIALTY TAPES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SPECIALTY TAPES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SPECIALTY TAPES MARKET - GLOBAL MARKET ANALYSIS
6.1. SPECIALTY TAPES - GLOBAL MARKET OVERVIEW
6.2. SPECIALTY TAPES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SPECIALTY TAPES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ACRYLIC
7.3.1. Overview
7.3.2. Acrylic Market Forecast and Analysis
7.4. RUBBER
7.4.1. Overview
7.4.2. Rubber Market Forecast and Analysis
7.5. SILICONE
7.5.1. Overview
7.5.2. Silicone Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. SPECIALTY TAPES MARKET - REVENUE AND FORECASTS TO 2028 - BACKING MATERIAL
8.1. OVERVIEW
8.2. BACKING MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. PVC
8.3.1. Overview
8.3.2. PVC Market Forecast and Analysis
8.4. PAPER
8.4.1. Overview
8.4.2. Paper Market Forecast and Analysis
8.5. WOVEN/NON-WOVEN
8.5.1. Overview
8.5.2. Woven/Non-Woven Market Forecast and Analysis
8.6. PET
8.6.1. Overview
8.6.2. PET Market Forecast and Analysis
8.7. FOAM
8.7.1. Overview
8.7.2. Foam Market Forecast and Analysis
8.8. PP
8.8.1. Overview
8.8.2. PP Market Forecast and Analysis
9. SPECIALTY TAPES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. HEALTHCARE
9.3.1. Overview
9.3.2. Healthcare Market Forecast and Analysis
9.4. ELECTRICAL AND ELECTRONICS
9.4.1. Overview
9.4.2. Electrical and Electronics Market Forecast and Analysis
9.5. AUTOMOTIVE
9.5.1. Overview
9.5.2. Automotive Market Forecast and Analysis
9.6. CONSUMER GOODS
9.6.1. Overview
9.6.2. Consumer Goods Market Forecast and Analysis
9.7. PAPER AND PRINTING
9.7.1. Overview
9.7.2. Paper and Printing Market Forecast and Analysis
9.8. BUILDING AND CONSTRUCTION
9.8.1. Overview
9.8.2. Building and Construction Market Forecast and Analysis
9.9. AEROSPACE AND DEFENSE
9.9.1. Overview
9.9.2. Aerospace and Defense Market Forecast and Analysis
10. SPECIALTY TAPES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Specialty Tapes Market Overview
10.1.2 North America Specialty Tapes Market Forecasts and Analysis
10.1.3 North America Specialty Tapes Market Forecasts and Analysis - By Type
10.1.4 North America Specialty Tapes Market Forecasts and Analysis - By Backing Material
10.1.5 North America Specialty Tapes Market Forecasts and Analysis - By Application
10.1.6 North America Specialty Tapes Market Forecasts and Analysis - By Countries
10.1.6.1 United States Specialty Tapes Market
10.1.6.1.1 United States Specialty Tapes Market by Type
10.1.6.1.2 United States Specialty Tapes Market by Backing Material
10.1.6.1.3 United States Specialty Tapes Market by Application
10.1.6.2 Canada Specialty Tapes Market
10.1.6.2.1 Canada Specialty Tapes Market by Type
10.1.6.2.2 Canada Specialty Tapes Market by Backing Material
10.1.6.2.3 Canada Specialty Tapes Market by Application
10.1.6.3 Mexico Specialty Tapes Market
10.1.6.3.1 Mexico Specialty Tapes Market by Type
10.1.6.3.2 Mexico Specialty Tapes Market by Backing Material
10.1.6.3.3 Mexico Specialty Tapes Market by Application
10.2. EUROPE
10.2.1 Europe Specialty Tapes Market Overview
10.2.2 Europe Specialty Tapes Market Forecasts and Analysis
10.2.3 Europe Specialty Tapes Market Forecasts and Analysis - By Type
10.2.4 Europe Specialty Tapes Market Forecasts and Analysis - By Backing Material
10.2.5 Europe Specialty Tapes Market Forecasts and Analysis - By Application
10.2.6 Europe Specialty Tapes Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Specialty Tapes Market
10.2.6.1.1 Germany Specialty Tapes Market by Type
10.2.6.1.2 Germany Specialty Tapes Market by Backing Material
10.2.6.1.3 Germany Specialty Tapes Market by Application
10.2.6.2 France Specialty Tapes Market
10.2.6.2.1 France Specialty Tapes Market by Type
10.2.6.2.2 France Specialty Tapes Market by Backing Material
10.2.6.2.3 France Specialty Tapes Market by Application
10.2.6.3 Italy Specialty Tapes Market
10.2.6.3.1 Italy Specialty Tapes Market by Type
10.2.6.3.2 Italy Specialty Tapes Market by Backing Material
10.2.6.3.3 Italy Specialty Tapes Market by Application
10.2.6.4 United Kingdom Specialty Tapes Market
10.2.6.4.1 United Kingdom Specialty Tapes Market by Type
10.2.6.4.2 United Kingdom Specialty Tapes Market by Backing Material
10.2.6.4.3 United Kingdom Specialty Tapes Market by Application
10.2.6.5 Russia Specialty Tapes Market
10.2.6.5.1 Russia Specialty Tapes Market by Type
10.2.6.5.2 Russia Specialty Tapes Market by Backing Material
10.2.6.5.3 Russia Specialty Tapes Market by Application
10.2.6.6 Rest of Europe Specialty Tapes Market
10.2.6.6.1 Rest of Europe Specialty Tapes Market by Type
10.2.6.6.2 Rest of Europe Specialty Tapes Market by Backing Material
10.2.6.6.3 Rest of Europe Specialty Tapes Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Specialty Tapes Market Overview
10.3.2 Asia-Pacific Specialty Tapes Market Forecasts and Analysis
10.3.3 Asia-Pacific Specialty Tapes Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Specialty Tapes Market Forecasts and Analysis - By Backing Material
10.3.5 Asia-Pacific Specialty Tapes Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Specialty Tapes Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Specialty Tapes Market
10.3.6.1.1 Australia Specialty Tapes Market by Type
10.3.6.1.2 Australia Specialty Tapes Market by Backing Material
10.3.6.1.3 Australia Specialty Tapes Market by Application
10.3.6.2 China Specialty Tapes Market
10.3.6.2.1 China Specialty Tapes Market by Type
10.3.6.2.2 China Specialty Tapes Market by Backing Material
10.3.6.2.3 China Specialty Tapes Market by Application
10.3.6.3 India Specialty Tapes Market
10.3.6.3.1 India Specialty Tapes Market by Type
10.3.6.3.2 India Specialty Tapes Market by Backing Material
10.3.6.3.3 India Specialty Tapes Market by Application
10.3.6.4 Japan Specialty Tapes Market
10.3.6.4.1 Japan Specialty Tapes Market by Type
10.3.6.4.2 Japan Specialty Tapes Market by Backing Material
10.3.6.4.3 Japan Specialty Tapes Market by Application
10.3.6.5 South Korea Specialty Tapes Market
10.3.6.5.1 South Korea Specialty Tapes Market by Type
10.3.6.5.2 South Korea Specialty Tapes Market by Backing Material
10.3.6.5.3 South Korea Specialty Tapes Market by Application
10.3.6.6 Rest of Asia-Pacific Specialty Tapes Market
10.3.6.6.1 Rest of Asia-Pacific Specialty Tapes Market by Type
10.3.6.6.2 Rest of Asia-Pacific Specialty Tapes Market by Backing Material
10.3.6.6.3 Rest of Asia-Pacific Specialty Tapes Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Specialty Tapes Market Overview
10.4.2 Middle East and Africa Specialty Tapes Market Forecasts and Analysis
10.4.3 Middle East and Africa Specialty Tapes Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Specialty Tapes Market Forecasts and Analysis - By Backing Material
10.4.5 Middle East and Africa Specialty Tapes Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Specialty Tapes Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Specialty Tapes Market
10.4.6.1.1 South Africa Specialty Tapes Market by Type
10.4.6.1.2 South Africa Specialty Tapes Market by Backing Material
10.4.6.1.3 South Africa Specialty Tapes Market by Application
10.4.6.2 Saudi Arabia Specialty Tapes Market
10.4.6.2.1 Saudi Arabia Specialty Tapes Market by Type
10.4.6.2.2 Saudi Arabia Specialty Tapes Market by Backing Material
10.4.6.2.3 Saudi Arabia Specialty Tapes Market by Application
10.4.6.3 U.A.E Specialty Tapes Market
10.4.6.3.1 U.A.E Specialty Tapes Market by Type
10.4.6.3.2 U.A.E Specialty Tapes Market by Backing Material
10.4.6.3.3 U.A.E Specialty Tapes Market by Application
10.4.6.4 Rest of Middle East and Africa Specialty Tapes Market
10.4.6.4.1 Rest of Middle East and Africa Specialty Tapes Market by Type
10.4.6.4.2 Rest of Middle East and Africa Specialty Tapes Market by Backing Material
10.4.6.4.3 Rest of Middle East and Africa Specialty Tapes Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Specialty Tapes Market Overview
10.5.2 South and Central America Specialty Tapes Market Forecasts and Analysis
10.5.3 South and Central America Specialty Tapes Market Forecasts and Analysis - By Type
10.5.4 South and Central America Specialty Tapes Market Forecasts and Analysis - By Backing Material
10.5.5 South and Central America Specialty Tapes Market Forecasts and Analysis - By Application
10.5.6 South and Central America Specialty Tapes Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Specialty Tapes Market
10.5.6.1.1 Brazil Specialty Tapes Market by Type
10.5.6.1.2 Brazil Specialty Tapes Market by Backing Material
10.5.6.1.3 Brazil Specialty Tapes Market by Application
10.5.6.2 Argentina Specialty Tapes Market
10.5.6.2.1 Argentina Specialty Tapes Market by Type
10.5.6.2.2 Argentina Specialty Tapes Market by Backing Material
10.5.6.2.3 Argentina Specialty Tapes Market by Application
10.5.6.3 Rest of South and Central America Specialty Tapes Market
10.5.6.3.1 Rest of South and Central America Specialty Tapes Market by Type
10.5.6.3.2 Rest of South and Central America Specialty Tapes Market by Backing Material
10.5.6.3.3 Rest of South and Central America Specialty Tapes Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. SPECIALTY TAPES MARKET, KEY COMPANY PROFILES
12.1. 3M
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. AVERY DENNISON CORPORATION
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BERRY GLOBAL INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. ECHOTAPE
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. INTERTAPE POLYMER GROUP
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. LINTEC CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. NICHIBAN CO., LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SCAPA
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SPECIALTY TAPES
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TESA TAPES (INDIA) PRIVATE LIMITED
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. 3M
2. AVERY DENNISON CORPORATION
3. Berry Global Inc.
4. ECHOtape
5. Intertape Polymer Group
6. LINTEC Corporation
7. NICHIBAN Co., Ltd.
8. Scapa
9. Specialty Tapes
10. Tesa Tapes (India) Private Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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